Heat Saver Loan Program Financing for Wood Pellet Central Home Heating Systems and Solar Hot Water Systems ( and other thermal efficiency measures) Made possible by the Vermont Department of Public Service

Why this is a great “kitchen table” financing tool It has all 3 key features of an effective financing program! 1.Great interest rates 2.Flexible 3.Easy and fast

Highlights Simple one-page application Approval within 2 business days Low interest rates Loan lengths are flexible; to match loan payments to energy savings Energy savings count in determination of ability to pay Solves the issue of how to pay for the work and allows you to focus the customer’s attention on a project start date

Eligible Properties Residential owner occupied 1 to 4 family units – Individual homes or units of condos or coops – Mobile homes on owned land or in state licensed mobile home park – Primary residences and vacation homes (subject to some limitations) Property taxes are being paid by the owner and are not delinquent Cannot be an asset in any pending bankruptcy, legal or divorce proceeding Cannot be owned by a business entity

Eligible Activities - Biomass Installation and acquisition costs of a Wood Pellet Central Heating System Fuel storage capacity of at least one ton or capacity such that the system may continuously operate for a period of at least one week. Automated fuel feed from a bulk storage container/area to the burn chamber in an integrated path, such as an auger feed. Automated on/off fuel feed control based on a demand for heat. Unit Capacity (MBh Output) of ≤ 300 Minimum Efficiency of 80% Minimum System Capacity to provide ≥ 70% of total building heat load Complies with all minimum EPA and Vermont standards for particulate matter emissions

Eligible Activities – Domestic Solar Hot Water Installation and acquisition costs of a Domestic Solar Hot Water System The system must qualify for RERC incentives

Other Program Details Participating Lenders – Vermont State Employees Credit Union – Opportunities Credit Union Simple Process 1.Select the appropriate heating system 2.Complete system/contractor portion of eligibility form with the customer, sign and attach quote a.Leave with customer to bring or send to lender 3.Customer chooses lender, completes application process and notifies contractor when approved

Terms and Interest Rates Unsecured Loan Max amount varies by lender (capped at $10,000) Terms up to 5 years Income over $96,240 = 3.9% Interest Income between $64,160 & $96,240 = 1.99% interest Income below $64,160 = 0.0% interest Secured Loan Up to $35,000 Terms from 5 to 15 years Income over $96,240 = 4.9% Interest Income between $64,160 & $96,240 = 2.99% interest Income below $64,160= 1.99% interest